Stocks To Watch – 12/4/2023
Brief Overview
Hello Traders & Investors,
Scroll down to see the stocks we have on watch this week 
We’re back to another Weekly Market Brief & Watch List
Still rocking the upward trend into the end of the year we could see more gains this month if this keeps up. Currently sitting around July highs we will be keeping a close eye on the SPY at this critical level.
We will see earnings from some notable names this week with NIO, AI, GME, DG, LULU, DOCU RH & SWBI all scheduled to report. We will also hear reports for Job numbers, U.S. trade deficit & employment numbers this week.
Recent Winners Tracking
U…59% from 11/28
LMND…117%from 11/20
Z…161% from 11/17
PLTR…31% from 11/14
CVNA…34% from 11/7
M…295% from 11/7
CRM…1392% from 11/3
MARA…182% from 11/2
AAPL…455% from 10/30
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Market Brief
S&P 500 ETF (Ticker: SPY) – Weekly Chart
Opened last week at: $454.65
Hit a weekly high of: $459.65 on Fri 12/1
Hit a weekly low of: $453.34 on Mon 11/30
Closed the week at: $459.10
The SPY caught a nice pop after trading a bit sideways to start the week. Currently sitting just under highs from late July we will be looking for the SPY to break over this level for a move to all time highs. If bulls maintain control we could see some resistance around the $462 level for confirmation.
If bears take over control we will be watching for a break of support at the $450 psych level. If $450 breaks we could see further slippage to the 20 EMA around $440.
Charts Provided By: Finviz
Weekly Stocks to Watch
Here’s some of the stocks we have on watch for the beginning of the week…
As always, we’ll be heavily focused on our news feeds & scanners for prime opportunities throughout the week.
Tesla Inc. (Ticker: TSLA) – Daily Chart
Flagging well over the 200 ema. Use $230 as a support zone for a move back to test the $240’s, ultimately $250. Likely a move to $260 in store if action becomes more bullish. On the other hand, this has been putting in lower highs since July, if this consolidation does not hold and $230 breaks down, $225 fails could lead to low $200’s. Eyes on sweeps and scans in the Trading Room for early indication of sentiment.
Disney (Ticker: DIS) – Daily Chart
Bear flagging after a week down -3.62%. look for $91.50/$90 and the $200ema to support action. If 200 ema defends look for a pivot bounce back to test the mid $90’s, ultimately $100. If action breaks down, look for targets/levels to the downside at $88 and then the earnings gap fill to $85 area., low $80’s after that.
Alibaba Group (Ticker: BABA) – Weekly Chart
Smacked down after breaking a downside trend line for the first time since July. Look for price to stabilize in the low $70s before any chance of retesting the upside zones at $75 > $77, ultimately $80. If sellers sustain dominance, than this has an easy path to break $70 and test the $60’s range. Eyes on scans/sweeps in the Trading Room.
Netflix Inc. (Ticker: NFLX) – Daily Chart
High flyer (and high pricer) currently putting in a double top at the $480’s level. If action continues to roll over and the market gets heavy to the sell side, this has room to retreat through the $460s to a $450 area test and ultimately $440’s. If $460s base out and the market trades bullish, a move back to test the current ranges high can happen just over $480 with a potential breakout event.
Zoom Video (Ticker: ZM) – Daily Chart
Common names from the ARKK portfolios that continues to gain steam in the current market. A name you don’t want to underestimate if buyers really gain control. Now testing the 200 ema on the daily, if $70 can base, a move to test the recent resistance over $75 is likely with breakout potential over $76 to the $80s zone to $90. If this rejects the 200 ema and $70, wait for backside confirmation for a pivot back down through the $60s.
Roku Inc. (Ticker: ROKU) – Daily Chart
Finally back into the $100’s since July 2022. If buyers remain in control, a move back over $108 could mean a sustained run into the $120’s > $130’s >$140’s in the big picture. Alternatively, this name is currently in overbought territory, and recent pops this year have been quickly followed up by a sustained sell off/pull back. $100 is surely a critical spot to watch to the downside and could be a critical over/under level for a trade guide.
We have many other names on watch and we’ll continue to monitor our breaking news feeds and stock & option scanners to help make the smartest picks with the most potential throughout the week!
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